The club also announced that it had signed a new eight-year sponsorship deal for its training kit, having bought out the last two years of DHL's existing contract in the expectation of striking a better deal.

The new sponsor would be announced "in the near future", it said.

The Old Trafford club still has debts of £366.6m and staff costs rose by more than 10% to £84.5m, mainly thanks to new player signings and player wage increases.

Manchester United has had a successful campaign on the pitch so far this season, currently topping the Premier League.

They are also in the last 16 of the Champions League, drawing 1-1 with Real Madrid in the first leg of their match on Wednesday evening.